German Stock Index DAX Stays Stable
The stock index of Germany DAX grew by 0.22% and is trading at the level of 12.454.20. The EUR/USD pair rose by 1.6% this week, and earlier today the pair reached its highest level since August 2015. As expected, the ECB's monetary policy remained unchanged with an interest rate at 0.0% level.
The German Finance Ministry stated that the country's economic growth continues in the second quarter. GDP growth is expected at 0.6% in the second quarter. The IMF raised Germany's growth forecasts to 1.8% in 2017 and 1.6% in 2018.
Inflation in the euro area and Germany remains below the ECB's target of 2%. German politicians argue that the German economy needs higher interest rates. But still, the ECB intends to stick to its soft policy so long as inflation levels in the euro area remain low.